November 17, 2009
VERICHIP has now bought STEEL VAULT and has now
changed their name
once again to PositiveID and for the FIRST TIME EVER now they will
be combining MONEY & IDENTITY with a
Selling VeriChip to Former CEO
by Brian Bandell
December 19, 2011
Delray Beach-based PositiveID Corp. announced a deal to sell its
VeriChip and Health Link businesses to a company led by its recently
departed former CEO.
The company (OTCBB: PSID) said it would receive a $200,000 note, a
10 percent interest in the purchasing company, VeriTeQ Acquisition,
possible future royalty payments from technology licenses and a
shared services agreement.
The deal requires the approval of a special committee of
VeriChip is a radio frequency identification microchip that is
implanted in patients so they can be identified. Health Link is a
personal health record program that has not been marketed for two
years. Neither of the products generated any sales this year.
PositiveID will retain its GlucoChip, a developmental implant that
monitors blood glucose and diabetes. It is also developing Easy
Check, a breath glucose detection device.